Challenges Of North American Ownership In Serie A – A Long-Term Perspective For Inter Milan | OneFootball

As North American investors increasingly acquire stakes in Serie A teams (they currently own 14 Italian teams across different divisions), a noticeable trend has emerged: many of these clubs struggle to perform at the highest levels.

Teams like Fiorentina, Parma, Venezia, and Genoa have not only failed to secure positions in the league’s top five but, alarmingly, some of them — such as Venezia, Genoa, and Parma — find themselves among the bottom ten.

This raises questions about the effectiveness of US ownership and its understanding of the intricate Italian soccer culture.

The Reality of Recent Performances

Inter Milan is the latest Serie A club to come under North American ownership through Oaktree Capital, has had a rocky start this season.

After an uninspiring tie in their opening match and a disappointing loss in the derby against a fierce AC Milan, some critics are taking advantage of these to attack Inter’s leadership.

The criticisms are also typical for a defending Scudetto champion and a strong contender for this year’s Champions League.

Furthermore, these early missteps could easily lead newspaper and opinion leaders to conclude that North American investors lack the necessary insight and adaptability required to manage an Italian football corporation.

While these may carry some truth, acquisition and management of football teams is a very complex task.

What should be taken into account, is the long-term plan while forgiving the ownership early challenges.

The Complexity Of Cultural Integration

It is tempting to attribute these struggles solely to the investors’ inexperience with Italian football culture.

However, it’s crucial to recognize that building a successful football club is a long-term endeavor.

Historical evidence suggests that transformative changes, both on and off the pitch, can take years to materialize.

Fans and analysts should resist the urge to jump to conclusions based on short-term performances.

Including suggesting that Inter Milan should change ownership after only four months since the American acquisition.

The American approach to sports management often emphasizes financial acumen and strategic planning.

However, football, especially in a country immersed in tradition like Italy, requires a nuanced understanding of local dynamics.

Also fan engagement, and competitive strategies differ significantly from those in the US.

This adjustment period will take time. Also, it can be a crucial phase for teams like Inter as they seek to align their operational strategies with local expectations and pitch performance.

Inter Long-Term Growth Strategy

Investors like Oaktree Capital must be prepared for a marathon, not a sprint.

Expectations of immediate success may lead to rushed decisions.

These could be decision such as selling players or overhauling management. Without giving the investors a fair chance to implement their growth strategy.

A period of 2-4 years is often necessary for foreign football team owners to effectively integrate into the football culture.

In order to build relationships with stakeholders (including the fans base), and craft a sustainable business model.

During this time, it is essential for these investors to focus on developing both the club’s on-field performance and its off-field brand value.

This may include initiatives like investing in youth academies, improving training facilities, or even building a new stadium.

The latter a project that Oaktree is exploring in partnership with AC-Milan.

This without a doubt will boost Inter’s finances while giving its global fans stronger ownership and representation.

Conclusion

The narrative surrounding US ownership in Serie A is increasingly negative as North American money has not proven successful to date.

While the data is not very favorable for the US investment funds, it is essential to adopt a long-term perspective.

The success of teams like Inter Milan depends not just on immediate performance but on a comprehensive strategy that respects and integrates into the local culture.

As these investors lay the groundwork for sustained growth, we should be patient.

Also we must recognize that the path to success in Italian football is a gradual process. One rich with challenges but rich with potential.

It is therefore unwise to call for a change of ownership right at the beginning of Inter journey under the new owners.

By: Andrea Zanon

Andrea Zanon is the co-founder of Confidente. He is an international advisor who has worked for financial institutions and entrepreneurs on sustainability, international affairs and development.